Published on 2/13/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $500,000 trigger autocallable contingent yield notes on Nasdaq
Chicago, Feb. 13 – UBS AG, London Branch priced $500,000 of trigger autocallable contingent yield notes due June 4, 2026 linked to the performance of the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay an 7.25% monthly contingent coupon if the index closes above its 70% coupon barrier on the related observation date.
The notes will be called at par if the index closes at or above its initial level on any monthly observation date after one year.
If the notes are not called, the payout at maturity will be par unless the index finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the index from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying index: | Nasdaq-100 index
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| Amount: | $500,000
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| Maturity: | June 4, 2026
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| Coupon: | 7.25% annual rate, payable monthly if index closes above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless the index finishes below downside threshold, in which case 1% loss for each 1% decline from initial level
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| Call: | At par if the index closes at or above initial level on any monthly observation date after one year
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| Initial level: | 14,441.51
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| Coupon barrier level: | 10,109.06, 70% of initial level
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| Downside threshold: | 10,109.06, 70% of initial level
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| Strike date: | June 1, 2023
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| Pricing date: | June 2, 2023
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| Settlement date: | June 6, 2023
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| Agent: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3.5%
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| Cusip: | 90279GLS6
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